WASHINGTON — Dallas Federal Reserve Bank President Richard Fisher Wednesday evening cautioned that creating thresholds under which the central bank would begin tightening monetary policy would be very difficult to accomplish, especially given the evolution of the global economy.

Speaking to reporters after a speech at the Cato Institute, the outspoken Fisher also had some harsh words for Congress, saying fiscal authorities need to "sober up" and get their act together to help the U.S. economy.

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